First Direct - forget it

Innys

Just thought I should recount my experiences in trying to open an e-ISA to transfer an existing ISA into them

Two weeks ago I applied online and a week later they finally got round to sending me the application pack and application form -without a transfer form.

Rang 'em up and asked for a transfer form. I was told they couldn't send me one without a signature. So I signed the letter, ticked the "send me a transfer form" box and sent it back.

Today, I get a welcome pack but no application form. I rang them again and was told I needed to spend 10 minutes setting up my account security. I explained I only wanted them to send me a transfer form but, oh no, you have to set your security.

At this point I gave up and told them I wouldn't bother with their account. If it takes this much effort to open an account, what would be closing account be like?

If this is an indication of their customer service, why do so many people rate them?

I think I'll try the Natwest e-ISA instead.

favemuppet

Innys wrote: »

I think I'll try the Natwest e-ISA instead.

You obviously havent read the posts about NatWest on here then!

I agree its a longwinded process, but the security is of course there for a reason (you only have to do it the once), and the wait is worth it for the rate.

The opening process was clearly set out in the T&Cs and the accompanying letters - I assume you did not bother to read them?

Personally I didnt mind doing all this - but I guess I'm just more patient than you!

Cat695

FD rock!!! simple.

Natti_A

It is faffy, i agree, but the isa is a really gd offer. I think its worth the wait.

I had to ask for another ISA transfer form as well, but got it eventually. Im now chasing them as they didnt seem to do anything with it for a week after i'd sent it!

It will all work out in the end though!

System

I've just applied for this and I was disturbed by the online application form I completed. I am sure banks/companies are not supposed to ask irrelevant questions because of Data Protection Act regulations, e.g. they asked my salary, my employer and my former addresses, these are not required to process an ISA application.
I expect FD are offering this rate with the prospect of trying to cross sell other FD accounts.

digipeep

Cat695 wrote: »

FD rock!!! simple.

+1

Have my current account with FD, can't fault their customer services. A magnitude of 1,000 above other banks customer services. Try using Alliance & Leicester customer services to see what I mean.

thriftybeatnik

I had a similar problem with FD as described so I went with Halifax as the branch had actual people in it

Doshwaster

I'm in the process of switching my ISA to FD. I went through the security thing yesterday and when I asked about the transfer pack I was told it will be in the post. So, we'll see.

I must say that I have been impressed so sar. It's nice to have a bank who answer the phone within two rings with a human being.

If the transfer goes well I'll consider moving my current account to them as well.

Any

I've just applied for the application pack - hopefully it will be O.K. as I have nothing to transfer...

Where do you get guaranteed rate nowadays though??? I had bad experience with NatWest in past (opened savings account with them and the rate halfed within 2 mths) so I am after fixed accounts or bonuses now..

Especially with ISAs, so you don't have to faff around with transfers for the next 12 mths..

natman

Hi.

I am in the same situation. My current ISA account has reduced its rate and I am looking to place new funds of 3600 + previous funds of £7070.
The first direct account looked good so did the marks and spencer accound at 3.10.

I have decided to opt for the Halifax ISA Direct Reward.
Earn a guaranteed tax free interest rate of 3% AER for 12 months.
allows up to 4 withdrawals and unlike many other ISAs, is available on new and existing ISA balances held elsewhere.

Minimum balance - £1,000 up to a maximum balance of £3,600 each tax year
Up to 4 withdrawals within the first 12 months - £10 or more
Manage your savings online or by telephone.

After 12 months the Halifax ISA Saver Direct interest rate and conditions will apply to your account. This account does pay a low - tax free variable interest rate of 0.50% AER, so you would have to switch in 12 months.

So yeah this seems to be the account for me!!!!
Anyone else any thoughts?
n

Any

That is the same as the First Direct.. Only the First direct is 3.1%, you can start with £1 and as far as I've noticed you don't have limit on withdrawals..